Chevron Corporation’s (CVX) “Buy” Rating Reaffirmed at Jefferies Group LLC
Chevron Corporation (NYSE:CVX)‘s stock had its “buy” rating reissued by investment analysts at Jefferies Group LLC in a research note issued to investors on Thursday. They presently have a $137.00 price objective on the oil and gas company’s stock. Jefferies Group LLC’s target price would indicate a potential upside of 15.48% from the company’s current price.
A number of other research firms have also issued reports on CVX. BMO Capital Markets lowered shares of Chevron Corporation from an “outperform” rating to a “market perform” rating and set a $120.00 price target for the company. in a research report on Wednesday. They noted that the move was a valuation call. Morgan Stanley raised their price target on shares of Chevron Corporation from $120.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday. Societe Generale lowered shares of Chevron Corporation from a “buy” rating to a “hold” rating and raised their price target for the stock from $120.00 to $130.00 in a research report on Wednesday. Vetr lowered shares of Chevron Corporation from a “buy” rating to a “hold” rating and set a $124.92 price target for the company. in a research report on Monday, October 16th. Finally, Macquarie raised shares of Chevron Corporation from a “neutral” rating to an “outperform” rating and set a $135.00 price target for the company in a research report on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $119.66.
Shares of Chevron Corporation (NYSE CVX) traded up 0.37% during mid-day trading on Thursday, reaching $118.64. 4,924,257 shares of the company traded hands. The firm has a market capitalization of $224.82 billion, a price-to-earnings ratio of 38.47 and a beta of 1.24. The firm has a 50-day moving average price of $116.24 and a 200 day moving average price of $108.72. Chevron Corporation has a 52 week low of $99.87 and a 52 week high of $120.89.
Chevron Corporation (NYSE:CVX) last posted its quarterly earnings results on Friday, July 28th. The oil and gas company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Chevron Corporation had a net margin of 4.50% and a return on equity of 4.13%. The company had revenue of $34.48 billion during the quarter, compared to analyst estimates of $32.77 billion. During the same period last year, the firm posted ($0.78) EPS. Chevron Corporation’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, analysts anticipate that Chevron Corporation will post $4.08 earnings per share for the current year.
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In other news, CFO Patricia E. Yarrington sold 39,000 shares of Chevron Corporation stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $111.00, for a total transaction of $4,329,000.00. Following the transaction, the chief financial officer now owns 43,838 shares in the company, valued at approximately $4,866,018. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James William Johnson sold 31,000 shares of Chevron Corporation stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $110.68, for a total value of $3,431,080.00. Following the transaction, the insider now owns 11,000 shares in the company, valued at approximately $1,217,480. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,812 shares of company stock worth $11,068,343. 0.38% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. HPM Partners LLC raised its holdings in shares of Chevron Corporation by 197.0% during the 1st quarter. HPM Partners LLC now owns 38,735 shares of the oil and gas company’s stock worth $4,159,000 after acquiring an additional 25,691 shares during the period. Lincoln National Corp raised its holdings in shares of Chevron Corporation by 33.3% during the 1st quarter. Lincoln National Corp now owns 82,502 shares of the oil and gas company’s stock worth $8,859,000 after acquiring an additional 20,615 shares during the period. Adams Natural Resources Fund Inc. raised its holdings in shares of Chevron Corporation by 8.8% during the 2nd quarter. Adams Natural Resources Fund Inc. now owns 596,800 shares of the oil and gas company’s stock worth $62,264,000 after acquiring an additional 48,100 shares during the period. Strategic Financial Group LLC raised its holdings in shares of Chevron Corporation by 6.0% during the 1st quarter. Strategic Financial Group LLC now owns 8,979 shares of the oil and gas company’s stock worth $964,000 after acquiring an additional 510 shares during the period. Finally, Rothschild Investment Corp IL raised its holdings in shares of Chevron Corporation by 2.3% during the 1st quarter. Rothschild Investment Corp IL now owns 41,232 shares of the oil and gas company’s stock worth $4,427,000 after acquiring an additional 919 shares during the period. Institutional investors and hedge funds own 62.72% of the company’s stock.
Chevron Corporation Company Profile
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream.
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